Three key financial statements and how they can guide your regenerative ranch into a bright New Year (originally published for Noble Rancher).
If you’ve been waiting for a sign it’s time to deal with the shoebox of receipts piled in the corner of your office or shop or on the kitchen table … this is it.
Dan Childs and Jason Bradley, two agriculture economic consultants at the Noble Research Institute, say that to end your financial year well, most of the work should already be done.
“Don’t wait until the end the year to cram it all in,” Bradley says.
To make the most of your end-of-year tax consultation meeting, be prepared with updated income/expense records, then use this final month of the year to reflect, re-calibrate and look toward a more regenerative future on your farm or ranch.
These three financial statements are the building blocks for successful financial strategies.